Goodwill and Other Intangibles

9 Months Ended

Oct. 02, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

5 Goodwill and Other Intangibles

The carrying amount of goodwill was $437 million and $444 million at October 2, 2021 and December 31, 2020, respectively. The effect of foreign currency translation decreased goodwill by $7 million.

The Company’s intangible assets included in the consolidated balance sheets are detailed as follows (dollars in thousands):


	October 2, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period		Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period
Capitalized software	$	576,988	$	419,736		5 years	$	584,452	$	409,847		5 years
Purchased intangibles		202,094		162,895		11 years		205,585		160,342		11 years
Trademarks		9,680		—		—		9,680		—		—
Licenses		12,616		5,944		7 years		5,923		5,697		6 years
Patents and other intangibles		99,906		66,629		8 years		90,699		61,808		8 years

Total	$	901,284	$	655,204		7 years	$	896,339	$	637,694		7 years

During the nine months ended October 2, 2021, the Company paid $7 million in connection with an existing licensing arrangement. The payment was tied to the commercial launch of Waters

™

SELECT SERIES

™

MRT, a high-resolution mass spectrometer and was capitalized as an intangible asset on our consolidated balance sheet in 2021. The gross carrying value of intangible assets and accumulated amortization for intangible assets decreased by $36 million and $27 million, respectively, in the nine months ended October 2, 2021 due to the effects of foreign

currency translation. Amortization expense for intangible assets was $15 million for both the three months ended October 2, 2021 and September 26, 2020. Amortization expense for intangible assets was $45 million and $42 million for the nine months ended October 2, 2021 and September 26, 2020, respectively. Amortization expense for intangible assets is estimated to be $62 million per year for each of the next five years.